It depends on what you want to accomplish. If you want to be competitive the time investment is very very low. If you want to be unstoppable and never die while killing everyone that thinks about fighting you then sure, you might want to sink a little time into skill practice.

At the end of the day, regardless of how much time you sink into skill mastery or prep bags or mindless grinding to get that last edge point for that "must have" edge, you are still probably going to get pked a lot by the people who are just flat out better at the game with the things that matter.